November 5, 2009:Nike has signed a multi-year extension with USA Basketball that will expand and enhance the company's commitment to the men's and women's national team programs and ensure that it would be with the program for the 2012 Summer Games in London. Financial terms were not disclosed.

Nike, which has been a partner of USA Basketball since 2006, said it would continue to serve as the exclusive oncourt and apparel provider of the men's and women's national teams. However, under terms of the new deal, Nike also becomes the official compression supplier of USA Basketball via its line of Nike Pro Combat products. Nike will also support all national teams represented by USA Basketball, including USA Basketball junior and developmental teams.

Nike's original deal included the USA Basketball men's and women's national teams during the 2008 Olympics in Beijing, where both squads won gold medals. The new deal will cover the 2012 Summer Games in London, which is just under 1,000 days away. The 2016 Summer Games will be held in Rio de Janeiro.

The men's team held a mini-camp in Las Vegas over the summer that was attended by such NBA players as Kevin Durant, Rudy Gay, Eric Gordon, Derrick Rose, Greg Oden and O.J. Mayo. Among the players expected to compete for spots on the 2012 Olympic team are LeBron James, Kobe Bryant and Dwyane Wade.

“Nike has been an ardent supporter of USA Basketball and a key contributor to developing the values of teamwork and dedication that the men's and women's National Teams exhibited during the Games in Beijing,” Jerry Colangelo, USA basketball chairman, said in a statement. “The long-term expansion of our partnership has helped make our teams stronger and we look forward to working together with Nike to achieve new heights both on and off the court for years to come.”

Nike will promote its brand and products through USA Basketball-themed events, media, advertising and promotions. Nike will also now serve as the on-air presenting partner of USA Basketball exhibition games broadcast in the U.S. Last year, Nike was presenting partner of the five-part series, Road To Redemption, which aired on ESPN2 and documented the USA Basketball men’s senior national team's preparations for Beijing; featured USA Basketball displays in its retail stores and online; and opened a grassroots fan museum, “The Commitment Gallery” in Harlem, New York.

“We are honored to extend our partnership and further our relationship with USA Basketball,” Lynn Merritt, director global basketball sports marketing for Nike, said in a statement. “We were pleased with our association and involvement with USA Basketball, and to share in the success of the Beijing Olympic gold medal team. We will provide innovative products that will assist the USA Basketball team members in future World Championship and Olympic competition as they attempt to equal the standard of achievement realized in Beijing.”